Data from China for October:
October Industrial Production 6.1% y/y
- expected 6.2%, prior was 6.1%
- For the m/m, +0.5%
October industrial production YTD 6.0% y/y
- expected 6.1%, prior was 6.0%
October Fixed Assets (excluding rural) YTD 8.3% y/y
- expected 8.2%, prior was 8.2%
October Retail Sales 10.0% y/y
- expected 10.7%, prior was 10.7%
October Retail Sales YTD 10.3% y/y
- expected 10.4%, prior was 10.4%
Retail sales and IP both missed. Given the huge shower of stimulus into the Chinese economy and the strength of other data this is a bit of a surprise.
more to come
-
Comments on the data from a stats bureau spokesman:
- China economy showed upwards momentum and higher quality in October
- China economy faces many instabilities and uncertainties, foundation still not stable